Which of the following is true?
A. Japan has a high export ratio.
B. Ireland has a low export ratio.
C. The European nations tend to have lower export ratios.
D. The United States has a very low export ratio.
Answer: D
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Solow residuals are estimates of ________
A) deadweight loss B) the natural rate of unemployment C) aggregate productivity D) labor hoarding
A relationship between two variables in which one variable increases at the same time as the other decreases is called
A) nonlinear. B) constant. C) inverse. D) direct.
The exclusive rights of ownership of property are generally referred to as
A) level property rights. B) private property rights. C) public property rights. D) common property rights.
Improved technology has reduced the risk of grain loss during storage. If wheat farmers expect wheat prices to rise substantially in about four months from now, which of the following is likely to be true?
a. The current supply of wheat will decline, as farmers store wheat in anticipation of the higher prices. b. The price of wheat breads is likely to decline in the future. c. The expectation of higher prices in the future is unlikely to have any impact on current wheat supply. d. The supply of wheat is likely to increase immediately.